Compared to many other destinations in Central America, Costa Rica certainly enjoys greater economic and political stability. The country has a low cost of living, it is an extremely stable country which does not appear likely to shift anytime in the near future and yet there are still quite a fair amount of American expats in the country right now. It is a safe investment to save for retirement when you can without having to fear that the currency will suddenly crash or worse a government collapse. When thinking about how to retire to Costa Rica, think about the following points:
Costa Rica has favorable tax treatment, which makes it very attractive to retirees coming from the United States, Europe and other parts of the world. You have the choice of investing in fixed or variable Costa Rican real estate, which can provide steady retirement income. The real estate market in central America tends to be rather unstable, so many expats prefer to purchase a house in one of the more developed areas like San Jose Costa Rica, Escazu, Santo Domingo, Corcovado, etc. Costa Rica has numerous vacation spots as well, so retirees don’t need to worry about finding a place to retire.
The cost of living in Costa Rica is less than many other Latin American countries. For an expat or native-speaking person from the United States, this may seem like a negative. However, Costa Rica is a relatively small country with only approximately two hundred and fifty million residents. That means that there are over one million Americans or Europeans living in Costa Rica. Therefore the population is rather stable and the exchange rate between the foreign currency and the local currency is very low. This means that American and European retirees will not be impacted negatively by the current economic crisis, as they would have if their country had a larger population.
The quality of life is also much better than what it would be in the United States or Europe. Costa Rica is a very wealthy country with excellent healthcare, educational opportunities and a very livable income. There is no tax system, but the inheritance tax rate is quite low, and people on restricted income levels do not pay any income tax. The social safety net is extremely strong in Costa Rica. It is much more likely that an American or European retiree will be able to find a job or get a better job than they would have in the United States or Europe, due to the fact that there is a much lower unemployment rate.
The overall economic situation in Costa Rica is far from perfect, but the economic outlook is certainly positive for the western world. One reason that retirement is more financially accessible in Costa Rica compared to the United States or Europe is the transfer system. In the united states and Europe, most pensions are channeled through the employers’ payroll system. In Costa Rica, retirement benefit payments are based on direct deposit.
As far as cost of living is concerned in Costa Rica, there is a great deal of flexibility. There are no rigid retirement benefit packages, so retirees have a lot of options when it comes to choosing a place to live, as well as getting the most out of their money. A Costa Rican broker will be able to provide information about different retirement options, including both social and occupational models. Both social and occupational models allow retirees to invest their money according to their preferences. This is a good option for retirees who are interested in protecting their social security, as well as investing part of their paychecks for additional investments.
Retirees who choose to Retire To Costa Rica can live in a small town or big city, and can even have the freedom to start retire to Costa Rica a new life in Costa Rica. One of the main attractions for retirees who are planning to Retire To Costa Rica is the fact that it’s a safe place to live. According to the Costa Rica government’s crime statistics, Costa Rica has one of the lowest crime rates in the world. Therefore, a retiree choosing to Retire To Costa Rica can feel secure about retiring in one of the smallest cities in Costa Rica.
Costa Rica is also an attractive place for retirees because of its many vacation opportunities. A retiree can enjoy all sorts of different activities, such as surfing, hiking, horseback riding, boating, golf, tennis, swimming, and many other kinds of activities. The capital city of San Jose, for example, offers a wide variety of recreational facilities for retirees, from museums to a golf course. Retirees in Costa Rica can enjoy living expenses while sipping coffee and can even plan their retirement based on their own personal needs, saving money for a luxurious lifestyle in their golden years